Buying a domain from a private seller


This is the process I used to buy a domain name from a private seller. We used www.escrow.com to transfer the funds. According to the service:
Escrow.com provides an escrow service that protects both the buyer and the seller in a transaction. Transactions take place in the following order:
  1. The buyer deposits funds into Escrow.com’s trust account
  2. Escrow.com notifies the seller that the funds are secured, the seller can now safely provide the goods or service to the buyer
  3. The buyer is satisfied with the goods or service and instructs Escrow.com to release the funds to the seller
If the buyer or seller are not 100% satisfied with the transaction it will go into arbitration with a neutral 3rd party arbitrator. Escrow.com will disburse the funds according to the arbitrators decision. 
The domain I purchased in this instance was from a private seller in Asia, and what I did was:

  1. Contact the seller and obtain a price for the domain
  2. Seller lists the domain on www.escrow.com
  3. Seller sends a transaction email to the buyer
  4.  Buyer clicks the link in the email, sets up an account with payment method, and approves the transaction.
  5. The buyer and seller start the domain name transfer process
    1. Buyer stages the domain in their DNS
      1. Recreate any DNS records if the website is being moved as well
    2. Seller prepares the domain for transfer
      1. Unlocks the domain
      2. Removes privacy on the domain
      3. Obtains an authorization code to transfer
      4. Sends auth code to the buyer
    3. Buyer begins transferring the domain
      1. Uses the domain hosting service process for beginning the transfer
      2. Put in the auth code and submit for transfer
        1. If transferring to GoDaddy, the seller will get an email with a Transaction ID and Security Code that they will need to give to the buyer
        2. If transferring to MarkMonitor, the buyer and seller will each get emails sent to them with a link that they each need to click
    4. Seller deletes the domain from their hosting service
  6. The buyer releases the funds from escrow.com 


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About Tom DeMeulenaere

Highly accomplished information technology professional with extensive knowledge in System Center Configuration Manager, Windows Server, SharePoint, and Office 365.
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